QatarEnergy, TotalEnergies, ConocoPhillips Strike Syria Offshore Deal

2026-05-14 05:49:00

(MENAFN) Qatar's state-owned energy company QatarEnergy, French oil major TotalEnergies, and US energy firm ConocoPhillips have joined forces with the Syrian Petroleum Company, signing a deal Tuesday to explore an offshore block in the eastern Mediterranean near the Syrian city of Latakia.

The memorandum of understanding covers a technical assessment by the three companies and establishes a framework for technical and commercial discussions related to exploration activities in the block, QatarEnergy announced via a post on X.

"Block 3 lies in the Levantine Basin in the eastern Mediterranean waters offshore the Syrian city of Latakia with water depths from 100 to 1,700 meters," QatarEnergy said.

The agreement signals the growing appetite among international energy majors for a foothold in Syrian resources — appetite that has sharpened considerably since the fall of former President Bashar al-Assad in late 2024 opened the country to fresh foreign investment and exploration activity.

MENAFN14052026000045017169ID1111114270

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.